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The 17-year-old event, which often heralds Oscar success, also honored "Beasts of the Southern Wild," "The Iceman" and "The Impossible."

CAPRI, Italy – David O. Russell’s Silver Linings Playbook won four awards at the Capri, Hollywood Film Festival, including the festival’s film of the year honor, organizers announced Wednesday.

Benh Zeitlin’s fantasy drama Beasts of the Southern Wild, Juan Antonio Bayona’s action drama The Impossible, and crime thriller The Iceman, from Ariel Vromen, were also highly decorated at the festival, which started on Dec. 26.

The 17-year-old Capri, Hollywood festival, which takes place on the picturesque island of Capri, off the coast of Naples, is the last festival of the year and the first of the following year. Films honored at the event often go on to find success at the Oscars.

The selection of Silver Linings Playbook as film of the year, especially, could bode well for the film’s chances come Oscar time: Michel Hazanavicus’ The Artist was Capri, Hollywood’s film of the year a year ago, and it went on to win five Oscars.

Silver Linings Playbook was also honored with the festival’s audience award, an award for the best acting ensemble, and Bradley Cooper, who plays a mentally ill patient who moves back home with his parents, was honored as actor of the year. Cooper’s prize will be presented to him later in January, in Rome, in conjunction with the Italian launch of Silver Linings Playbook.

The low-budget Beasts of the Southern Wild, which had its Italian premiere at the festival, was the next most decorated film at the festival. The film, which recounts a fantasy tale of a poor young girl in the Louisiana bush, won Capri, Hollywood’s prize for Surprise Film of the Year, while 9-year-old Quvenzhané Wallis, who plays the role of young girl Hushpuppy, was selected as best actress.

Bayona was named best director for his work on The Impossible, while Vromen was named breakout director for The Iceman.

Among the other awards, Franco Nero, who created the iconic role of cowboy drifter Django that inspired Quentin Tarantino’s Django Unchained, was given the festival’s Capri Legend Award for lifetime achievement, while the Capri Cult Award for achievement from a director went to Antoine Fuqua. Fuqua’s award was presented to him by actor Gerard Butler, who plays one of the main roles in Fuqua’s soon-to-be-released thriller Olympus Has Fallen.

Edoardo Ponti was given the prize for best short film for The Night Shift Belongs to the Stars, while Germany’s Nina Hoss, the protagonist in Barbara, was selected as the best European actress.

Pascal Vicedomini, the festival’s founder and director, praised the Capri lineup, saying it included “an amazing array of first-class international movies.” Vicedomini is also the founder and director of the eight-year-old Los Angeles-Italia Fashion and Art Fest, which will take place at Grauman’s Chinese Theatre in Los Angeles in February, just before the facility hosts the Oscars.